Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32407. (Read 26609666 times)

Looks like gap is closing? Perhaps rally is real and not solely based on Gox's financial status.

As I said many times: buy and hold has historically been a winning strategy with BTC. Daytrading BTC is a huge risk, and IMO it should be done ONLY after an obvious bubble pop that leads to a bear market, as we had from mid April to July/August.

In my book this is a very bad time to daytrade, is time to hold like a motherfucker, as I've been saying since the beginning of July. You made fun of me because of a trolly post I wrote at the beginning of April in which I suggested to a guy to hold to his BTC if he invested what he could afford to lose and didn't want to miss the opportunity of his life. I again stand correct on that post. I don't believe in risk management with BTC, I think the bigger risk is to lose a once in a lifetime opportunity to be really "all set", and the potential with BTC is so high that you don't need to invest a significant % of your wealth, by investing what you can comfortably afford to lose your life can change for real, very soon.

We are all still early adopters, even the guy buying today for the first time, but the window is starting to close, slowly. When it closes for good, it would be sudden. We are approaching ATH, and we all know what happens when we break ATH, right? Huge media exposure and back to bubble mode, and this time $1,000 will be broken in less time you need to blink your eye. What if a BTC ETF is approved by the SEC? You can image.

Sure, secure your profits. I guess that everybody who has been into Bitcoin at least for 1 year has recouped their investment and secured profits at some point. That's the sensible thing to do. But don't fuck up by daytrading when the bear market is over, now it's time to ride the choo choo train. Yeah, crashes will follow parabolic rallies, but will you be able to time that? Be careful, in this game the one with more BTC in his wallet  is the one winning.

I would have expected some panic buying after 200, doesn't look like it. Good sign though, seems healthy this way.

Now less than 5% spread between gox and stamp. WTF?

Wooo hoooo - only 20k BTC until $300

This is completely sustainable  

Thanks so much Oda.

Yeah, I switched strategy to not sell anymore as it goes up. When price moved back up from $65 to $100, as I was selling the buying was very strong. I figured we just might have seen the low already and from here it's up but by that time I had already sold half of the coins I started with.

Glad I switched strategy but regrets also.

Truth 

Thanks for bringing that up Blitz. You are right. I really needed to lock in some profit from btc. It has given me large utility in quality of life, security, confidence.


By the way, I think you are doing a great job moderating the forum. I haven't seen censorship, yet you do keep it clean, removing bump posts and keeping speculation forum on topic.

 

Someone asked about good btcchina ticker and I might have found it, there's alarm also! http://bitcointicker.co/

Bolded the answer.

The flipside of "Don't invest what you can't afford to lose" is "DO invest in what you CAN afford to lose" (as long as you have reason to believe the bet is asymmetric like with Bitcoin*). It's just not socially acceptable to warn people in the latter way instead of the former.

*Perhaps 10-20% chance of making you very wealthy, 80-90% chance you lose all your play money

Sorry to hear that.

I'm kind of nervous myself. I'm holding, all of it, waiting for the last moment to sell. I'd love to say "it looks like it's about to turn around", but in reality, I don't see any signs for that (likely to happen eventually) correction yet. Neither on stamp nor on gox. So, I'm holding.

Money has marginal utility, it is more important to secure your first million than to make another million.

Risk management might suffer from faulty logic.

What is the riskiest?

An investment with average risk of loss and high potential reward (buy and hold btc),
or an investment with low risk of loss and average potential reward (sell btc as it goes up and lock in profit)?

It depends, risk of losing money is the highest in first, but risk of missing out on a rare opportunity to become a billionaire is highest in second.

Good Morning USA, I got a feeling that it's gonna be a wonderful day
The sun in the sky has a smile on his face and it's shining to salute to the American race.
Oh boy, it's well to say: "Good Morning USA."

Wow, another big night!

I think an short term correction is coming, might slide about 15usd

Balls come from studying and thinking about Bitcoin and its potential, the possible outcomes and the probabilities of those outcomes, and then just sitting back and relaxing. Don't look at short-term charts. Look at long-term log charts to keep a clear head.

This may help: http://irdial.com/blogdial/?p=3166 Then realize he's wrong, Bitcoin is all that AND a Gold 2.0.

It has been very hard to win "just hold" tactic to this day, but the thing is risk management. It's very hard to predict what is going to happen and it may be wise to sell if the trend might turn, you just have to buy back soon if the trend didn't turned. You may end up losing little coins, but someday the trend will turn and then you win a lot of coins/fiat if you always remembered to pay the "insurance".

Yeah - something like that.  Think the biggest hit I took was a drop of $14- which, natch, totally reversed as soon as I sold out.  I've lost 8.5 btc on what I would have today otherwise, but I trade better on a rising market (who doesn't)  I'm just not sticking at the right points - can't believe I sold at 76.98 in July. AAAARGGGH!